Can I get it alongside the National Pension?

Yes, though it may be partly reduced depending on your National Pension amount.

Is it paid automatically?

No. You must apply, starting one month before the month you turn 65.

Basic Pension (Korea)

🤝 Social Welfare By CampusDown Wiki Editorial Team Last updated November 9, 2026

Korea's Basic Pension is a monthly public cash benefit for people aged 65 or over whose recognized income is at or below a threshold, covering about 70% of older adults.

Contents

1. Why it exists
2. Who qualifies in 2026
3. Why payments may be lower
4. How to apply
5. FAQ
6. References

Why it exists

The National Pension only began in 1988, so many of today's older Koreans have short or no contribution records, and Korea has long had the OECD's highest old-age poverty rate. An old-age allowance (1991) and a seniors' pension (1998) led to the Basic Old-Age Pension in 2008 and, from July 2014, the Basic Pension of up to KRW 200,000. It rose to KRW 250,000 in 2018 and to KRW 300,000 in steps through 2021, and is now indexed to prices. The 2014, 2018 and 2019 expansions significantly reduced old-age poverty, especially extreme poverty (Lee, 2022).

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Who qualifies in 2026

The 2026 maximum is KRW 349,700 a month for a single person and KRW 559,520 for a couple. Eligibility depends on recognized income—monthly income plus an income value assigned to assets—being at or below KRW 2.47 million (single) or 3.952 million (couple). Earnings count only at 70% after a KRW 1.16 million deduction, and asset deductions apply (KRW 135 million basic assets in large cities, KRW 20 million financial assets). Recipients of civil-service, teacher or military pensions are generally excluded.

Why payments may be lower

Couples both receiving are each cut by 20%. A National Pension–linked reduction can trim up to 50% when that pension exceeds 150% of the standard amount, and an anti-reversal rule smooths incomes near the threshold. The maximum is a ceiling; the decision notice shows the real figure. These rules sit at the heart of the multi-pillar pension debate.

How to apply

Apply from one month before the month of your 65th birthday at any community center, a National Pension Service branch or online via Bokjiro. It is not automatic. Payments arrive on the 25th. See also the earned income tax credit and long-term care insurance.

FAQ

Can I get it alongside the National Pension?: Yes, though it may be partly reduced depending on your National Pension amount.
Is it paid automatically?: No. You must apply, starting one month before the month you turn 65.

Sources reviewed: 2026-11-09

References

기초연금법 (2014. 5. 20. 제정, 2014. 7. 1. 시행). Basic Pension Act on eligibility, benefit amounts and reductions.
보건복지부. (2026). 2026년 노인 단독가구, 소득인정액 월 247만 원 이하면 기초연금 받는다 [보도자료]. Ministry release on 2026 thresholds: KRW 2.47m single, 3.952m couple.
정부24. (n.d.). 기초연금 신청 안내. Government portal: 2026 maximum amounts, income formula, exclusions.
보건복지부. (n.d.). 기초연금 누리집. Official Basic Pension site with a simulator and application info.
복지로. (n.d.). 기초연금 온라인 신청. Online welfare portal for Basic Pension applications.
Lee, K. (2022). Old-age poverty in a pension latecomer: The impact of basic pension expansions in South Korea. Social Policy & Administration, 56(7), 1022–1040. Finds 2014–2019 expansions cut old-age poverty, especially extreme poverty.
Pak, T.-Y. (2021). What are the effects of expanding social pension on health? Evidence from the Basic Pension in South Korea. The Journal of the Economics of Ageing, 18, 100287. Examines health effects of Korea's Basic Pension expansion.

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This article was last updated on November 9, 2026. It is based on widely recognized original works and textbooks; when citing it in a paper, please check the original sources listed in the references.